National Associations

FINANCIAL MANAGEMENT AS IT RELATES TO NATIONAL ASSOCIATIONS REQUESTS AND DISBURSEMENT OF FUNDS BY THE DOMINICA OLYMPIC COMMITTEE (DOC)

NATIONAL ASSOCIATIONS (NAs)

1.Request for activity funds must be made no less than ONE month before the event.

2.A Financial Statement with accurate breakdown of costs to be incurred must be submitted with the request and should coincide with the budget submitted and events approved by the Executive of the Dominica Olympic Committee.

3.Ninety percent (90%) of the amount requested should be disbursed prior to the event and the balance paid after submission of a well-documented report with accompanying original receipt. Ten percent (10%) should be paid to the NA after reconciliation by the DOC. In the case of National Championships being held or training of coaches and/or officials, the disbursements will be administered in that manner by the DOC.

5.NAs must submit the bona fide receipts for monies disbursed within ONE month following the event.

6.A detailed report of the activity must accompany the receipts and invoices submitted for example in the case of a coach or other official representing the NAs under the auspices of the DOC.

7.NAs should reveal the funds obtained from other sources, for example Sponsors, and the name of sponsoring organization or institution. Pledges made by International Federations as well as letter(s) supporting invitations to attend events for example, training and competitions should be submitted to the DOC Executive.

8.The Executive of the DOC shall inform the NA about its status as it relates to the annual budget assigned to that NA when requests are made.

9.All documents related to requests and disbursement of funds must be signed by two officers of the NA Executive including the Treasurer.